Ut Health East Texas Carthage Hospit
dba Ut Health East Texas Carthage Hospital ·
Carthage, Panola County, TX
· CCN 450210
Licensed to Carthage Hospital, Llc
Composite
60.2
rank score
Distress
77
FY2024
Fit
64
vs thesis
Estimated ticket
$2.9M–$5.9M
42 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- current ratio below 0.8
- occupancy below 30%
- margin deteriorating sharply
- TX: favorable regulatory climate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $21.7M |
| Operating margin | -9.1% |
| Total margin | -1.1% |
| Days cash on hand | 18 |
| Current ratio | -0.65 |
| Occupancy | 8% |
Facility
| Beds | 42 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 42 | $24.8M | $1.9M | -1.3% | 7.2% | 1 | 0.74 | 15% | 707 | 60 |
| 2022 | 42 | $24.4M | $4.6M | 8.8% | 17.2% | 0 | 1.77 | 14% | 608 | 31 |
| 2023 | 42 | $20.7M | $1.3M | -3.2% | 5.6% | 13 | 0.35 | 8% | 396 | 60 |
| 2024 | 42 | $21.7M | $-247K | -9.1% | -1.1% | 18 | -0.65 | 8% | 390 | 77 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ahp Health Partners, Inc | 5% or greater indirect ownership interest | 100 | 2018-03 | |
| Ahs East Texas Health System, Llc | 5% or greater direct ownership interest | 100 | 2018-03 | |
| Ahs Texas, Llc | 5% or greater indirect ownership interest | 100 | 2019-01 | |
| Ardent Health Inc | 5% or greater indirect ownership interest | 100 | 2018-03 | |
| Ardent Legacy Holdings Llc | 5% or greater indirect ownership interest | 100 | 2018-03 | |
| Donald Baker | corporate officer | 100 | 2020-11 | |
| Donald Baker | w-2 managing employee | 100 | 2020-11 | |
| Ahs Management Company Inc. | operational/managerial control | 2018-03 | ||
| James Grimes | corporate officer | 2021-09 | ||
| Martin Bonick | corporate officer | 2020-09 | ||
| Mary Crabtree | corporate officer | 2018-03 | ||
| Stephen Petrovich | corporate officer | 2018-03 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2018-03-01 | change of ownership | Carthage Hospital, Llc | East Texas Medical Center Carthage |
Who has been buying in TX
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2025-02-01 | Texas Heart Hospital Of The Southwest Llc | Baylor Heart & Vascular Center Llp | Baylor Heart And Vascular Hospital | 56 |
| 2024-10-30 | Hsa Port Arthur, Llc | The Medical Center Of Southeast Texas Lp | The Medical Ctr Of Southeast Texas | 196 |
| 2024-10-30 | Hsa St. Joseph, Llc | Sj Medical Center Llc | St Joseph Medical Center | 156 |
| 2024-10-17 | Big Spring Texas Hospital Company Llc | Steward Texas Hospital Holdings Llc | Scenic Mountain Medical Center | 75 |
| 2024-10-17 | Odessa Texas Hospital Company Llc | Odessa Regional Hospital Lp | Odessa Regional Hospital | 208 |
| 2024-06-01 | Columbia Medical Center Of Denton... | Decatur Health Services Llc | Medical City Denton | 184 |
| 2024-03-11 | Nacogdoches County Hospital District | Lion Star Nacogdoches Hospital, Llc | Nacogdoches Memorial Hosp | 160 |
| 2024-01-01 | Ahs Sherman Llc | Sherman Grayson Hospital Llc | Wilson N Jones Regional Medical Ctr | 214 |
| 2023-04-01 | Methodist Healthcare System Of San... | Hill Country Memorial Hospital | Hill Country Memorial Hospital | 57 |
| 2021-06-01 | Methodist Hospitals Of Dallas | Metsl, Llc | Methodist Southlake Medical Center | 22 |
| 2020-10-27 | Hendrick Medical Center | Armc Lp | Hendrick Medical Center | 533 |
| 2020-10-27 | Hendrick Medical Center Brownwood | Brownwood Hospital Lp | Hendrick Medical Center Brownwood | 63 |
| 2020-07-01 | St Joseph Regional Health Center | St Joseph Regional Health Center | St. Joseph Regional Health Center | 284 |
| 2020-04-01 | Christus Santa Rosa Health Care Corporation | Adventist Health System/sunbelt, Inc. | Christus Santa Rosa - San Marcos | 105 |
| 2020-03-01 | Sana Healthcare Carrollton | Baylor Medical Center At Carrollton | Carrollton Regional Medical Center | 89 |